UT’s Kofi Amoabeng Inside The Dock!

The case of property fraud involving the Chief Executive Officer (CEO) of UT Holdings and Bank, will continue today at the Accra Circuit Court (one), before a diligent Judge, Francis Obri, with an end to the cross examination of complainant.

What is shocking is that many Ghanaian journalists who reports from the court have stayed away from such a high profile case involving Captain Retired Kofi Amoabeng, an ex-accountant of the Ghana Armed Forces (GAF).

Mr. Amoabeng who is also a patron of imported “Johnnie Walker” hard liquor since last week Thursday June 17, 2013 been in the dock as Naa Otua Owusua I, a female chief from the Eastern Region prove her case against Mr. Amoabeng, that he became the owner of her property under very fraudulent circumstances.

Last Friday June 18, 2013,Naa Otua Owusua I alias Naa Otua Swayne, a mother of three maintained her position that, she had no agreement with Mr. Kofi Amoabeng and his UT Financing Holdings, but the late Alexander Adjei who even failed to pay the full cost of the building, now owned by Kofi Amoabeng, and converted into a hotel and a shop.

The judge, allowed one female lawyer who is part of Amoabeng’s legal team to take photographs of the ex-military accountant while inside the dock wearing black suit and sea-blue striped shirt.

Naa Otua Owusua I, the complainant continuously expressed shock at how her thirty-room property dubbed Naa Otua Plaza on the Ring Road, opposite the headquarters of Ghana National Fire Service became the property of Mr. Amoabeng.

She denied suggestions put to her by counsel for Mr. Kofi Amoabeng, lawyer Addo Atua that she got a loan facility from UT bank, with the interest accruing to partly cover the cost of the property.

She further denied receiving a whopping amount of US$80, 000 from Mr. Amoabeng’s company, which Mr. Amoabeng claim was paid into her bank account.

She insisted that the said money was still with Mr. Amoabeng.

She added that it came as a surprise, when she realized that the UT boss is a signatory to a document prepared by her lawyer Mr. Martin Nuworsu.
According to her, Mr. Kofi Amoabeng signed the said documents as the owner of the property which he was not supposed to do.

She explained that the said agreement a “contract of sale” was supposed to have been executed 90 days after the full payment of the cost of the house, but shockingly it was done a day after she had left the shores of Ghana, with clear instructions to her lawyer, Martin Nuworsu to see to the execution of the contract after the full cost had been paid.

She had claimed that a search has shown that on October 14, 2005 Mr. Amoabeng acted as the owner of her property when he was not mandated do to so. Mr. Nuworsu, was to act in her stead after the full payment had been made, but it was rather Mr. Amoabeng who did.

Naa Otua insisted that a day before her departure to the United Kingdom (UK), the said agreement was given to UT boss to sign as the owner of the property. He subsequently took the agreement to secure a loan from HFC Bank.

The prosecutor, DSP Aidan Dery had informed the Court that in October 2005, the complainant decided to sell her house and subsequently entered into a sale and purchase agreement with the late Alexander Adjei, the supposed buyer.

The prosecutor told the trial Judge that the complainant agreed to sell the said house for US$280,000, and Mr. Adjei was supposed to pay the money in three installments.

The deceased Mr. Adjei on October 14, 2005 made a payment of US$100,000 but could not pay the remaining amount.

Naa Otua, who is a novelist, was due to travel to the United Kingdom (UK), so proceeded to UT Bank where she borrowed an amount of GH¢25, 000 using the title on the house as a collateral.

The prosecutor said Naa Otua, prepared and signed a deed of assignment with a condition that the final transaction would be witnessed by one Martin Nwosu, a lawyer, and handed over to the buyer after full payment of the purchase price.

The prosecutor, however, explained that on September 27, 2007, Mr. Aidoo, without recourse to Naa Otua, wrote a letter to State Housing Corporation (SHC) informing it that the deceased had purchased the property, therefore, requesting them to consent to it by assigning the property to him.

According to the prosecutor, Mr. Amoabeng fraudulently released the title document on the house to the late Alex Aidoo, to secure a loan facility at the Home Finance Company Bank (HFC), despite knowing that the house in question was still in the name of Naa Otua, as the purchase price had not been paid in full.